We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
 Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and more resilient than that of ordinary steel mills, whose products are commoditised.
Chinese steel mills suffered razor-thin margins in 2011-2013, due to limited bargaining power in raw material costs and industry-wide overcapacity. The per ton profit margin of ordinary steel products, mainly rebar and wire rods used by construction industry, dropped to below CNY150 during the bottom of the industry cycle in 2011 from close to CNY300 in 2010, and has remained around this low level since.
Based on discussions with industry participants, Fitch has found that the metal spread per ton could be more than CNY400 for certain high-end special steel products for specific clients, which is significantly higher than ordinary steel.
Although there has been a mild margin increase in 2014 due to lower iron ore and coking coal prices, the fundamentals of Chinese steel mills, especially the small and mid-scale companies with low value-added products, are still weak.
Special steel products are different from ordinary steel in terms of chemical composition and mechanical properties. The prices of special steel products, such as bearing steel and large molded ingots, are more of a function of quality control, tighter tolerance and finer processing than the steel alloy content. The production of special steel requires more advanced technology and production facilities, relatively long production periods and large capital investment.
The prices of mid- to low-end special steel products still move in line with industry-wide price changes, which impacts Chinese special steel producers who mainly make low- to mid-end products. However, the prices of high-end products are much less volatile because they are used in high-tech or high-margin downstream industries, such as marine engineering, high-end auto production, high-speed rail and even national defence.
The Chinese steel industry has potential to move further up the value chain. In developed countries, the special steel industry developed rapidly once the traditional steel industry reached a mature stage. As at end-2013, special steel production accounted for only 6.1% of China's total crude steel output, while the same ratio was 55.0% in Sweden, 22.5% in Germany and 18.8% in Japan.
Buyers of high-end special steel products usually have specific requirements and typically will sign contracts with producers that include a negotiated price and a certain portion of prepayments, both of which are positive for the producer's profitability and cash flow position. Special steel makers' profitability, especially for high-end producers, has the potential to rise above the steel industry average. In the Chinese government's development blueprint for the five-year period to 2015, high-end special steel products have been categorised as refined products under the steel industry, which means that the segment would receive government support. At the same time, the enormous scale and rapid development of China's automobile and engineering machinery industries will underpin demand for special steel.
The key risks to the special steel industry include 1) weaker demand due to slower-than-expected economic growth, 2) faster-than-expected special steel production expansion that will generate overcapacity in the coming years, and 3) volatility in prices of commoditised steel products, which will impact prices for low- to mid-end special steel products.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
|
|
|
Showing 3251 to 3255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Parliament of New Zealand
- Deloitte Consulting - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
